Wall Street Hits Record Highs, Nike Jumps 18%: What's Moving Markets Friday?

Market Overview - Risk appetite surged at the end of the trading week, with the S&P 500 breaking above 6,190 and the Nasdaq 100 extending all-time highs due to easing trade tensions and geopolitical risks [1] - The Dow Jones Industrial Average climbed steadily near the 44,000 mark, outperforming other major indexes, driven by significant gains among blue-chip companies [3] Trade Agreements - President Donald Trump indicated that the U.S. is finalizing multiple trade agreements, with four to five deals either completed or nearing completion ahead of a key July 9 deadline [2] - A new U.S.-China trade accord was confirmed, which includes tariff reductions and safeguards for rare earth imports, further boosting market sentiment [2] Company Performance - Nike Inc. saw an 18% increase in stock price after reporting quarterly earnings that exceeded Wall Street expectations, marking its best trading day ever [3] - Boeing Inc. advanced 4% following a positive analyst note from RedBurn Atlantic [3] - NVIDIA Corp. extended its leadership in the AI sector, surpassing a $3.8 trillion market capitalization, reinforcing its status as the world's most valuable company [4] - GE Aerospace gained 3.5%, reaching its highest level in 17 years [4] Sector Performance - Nearly every S&P sector closed in the green, except for energy, which lagged sharply as oil prices faced their worst weekly drop since March 2023 [5] - Gold prices dropped 1.6% to $3,270 per ounce as traders shifted into risk assets, moving away from traditional safe havens [5] Currency Trends - The U.S. dollar extended its losing streak to a seventh session, reaching its lowest level since February 2022, and is on track for its worst first half of a year since 1991 [6]